Temenos’ ambitious goals for reducing Scope 1, 2, and 3 emissions have been endorsed by the Science Based Target initiative (SBTi).
The SBTi has confirmed Temenos’ plan to reduce Scope 1, 2, and 3 greenhouse gas emissions by 50% by 2030, based on a 2019 baseline, is consistent with the Paris Agreement’s most stringent goal of limiting global warming to 1.5°C above pre-industrial levels.
This validation contributes to Temenos’ goal of incorporating Environmental, Social, and Governance (ESG) principles into its operations and offerings and becoming a net-zero organisation globally and across its supply chain by 2050. This will also help their clients on their respective paths to becoming smart, inclusive, and sustainable organisations.
Temenos’ science-based target includes operational Scope 1 and 2 emissions and Scope 3 emissions from its value chain, making the Scope 3 target especially difficult. In addition, this goal exceeds the minimum ambition required for the 2°C pathway outlined in the Absolute Contraction Approach for 2030.
The SBTi establishes the standard for setting science-based goals to mitigate the worst effects of climate change. It also assesses a company’s objectives on its own. As a result, Temenos is one of 2,218 companies that have received official validation for their emissions reduction targets based on climate science.